Litecoin, held at it's base of $20 for quite a while until just a few days ago where it was bumped up to it's current value at $40, my guess is LTC will hold at $40 for a bit as it's new base. Why do I think that way?
I think with tech stocks crashing there are many new investors looking at cryptocurrencies as a means of investing, with BTC showing a lot of signs of vulnerability investors are looking at alt coins. Could LTC be at it's new low base of $40 currently, and say in 10 months rise to anywhere between $75 and $100? That's the question I am asking myself.
Here are some reasons why it may happen.
BCoin Developers Unveil LCoin, the First Node.JS Fullnode Implementation of Litecoin
https://themerkle.com/bcoin-developers-unveil-lcoin-the-first-node-js-fullnode-implementation-of-litecoin/
However, as the Merkel points out, the bigger question is why this price increase is happening right now. One possible explanation points to concerns about the upcoming hurdle event for Bitcoin, where a looming chain split on August 1st has some people concerned. It is possible a chain split could hurt Bitcoin’s market position and another cryptocurrency may overtake it, especially with the market share of Ethereum soaring and poised to overtake Bitcoin (at the current pace of growh) in months.http://www.zerohedge.com/news/2017-06-17/litecoin-explodes-higher-after-flood-chinese-korean-buying
I think short term analysis of LTC is that it will continue to rise within a year simply because there will be an influx of new investors in the coming months not feeling safe with BTC's upcoming fork and looking at the alts, with LTC now being added to more exchanges it will make it much easier to trade than other alt coins.
Do I think LTC has a long term advantage in the market like for example ETH does? Maybe. I do see some short term growth for LTC to at least double from it's current $40. Then again that is just my guess. Anything can and will happen in this extremely volatile market.
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